Iconic Gold Coast Broadwater Management Rights

$3,300,000

Resort / Holiday management rights, Labrador QLD

Stratacorp proudly and exclusively offers a unique landmark management rights, an iconic mixed-use block of apartments, found on the shores of the internationally renowned and picturesque Broadwater of the Gold Coast. Featuring 147 spacious and fully self-contained, one- and two-bedroom units (and two
three-bedroom) with balconies overlooking panoramic views of the Broadwater, Stradbroke Island and the hills of the rugged Hinterland. This iconic property offers highly sought-after holiday accommodation within a short distance from beaches, parks and scenic walkways, as well as award winning restaurants and entertainment areas. This business is easily managed and offers significant potential to grow.

Key highlights:
- Modern building and amenities
- Solid mixed-use letting pool with high guest return rate, and long-term rental opportunities
- Solid body corporate salary and room for growth in letting pool
- Spacious managers residence
- Resort-style reception area and back office (on title)
- Historic maintenance history
- Superior location close to diverse attractions

More Information

Financial Overview

Total Purchase Price: $3,300,000
Net Income: $ 450,800 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 895,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}
Multiplier: undisclosed
_{Estimated number of years till the Net Income reaches the Purchase Price of the business component. Other factors such as lifestyle, workload, location and offering should always be considered ahead of the multiplier when evaluating a Management Rights business.}

Letting Business

Letting Pool: 43
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 5
_{Number of units resided in by their owners.}

Lock Ups: 20
_{Number of units owners are not renting out, but also do not live in.}

Outside Agents: 11
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 147
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 225,855
_{This is the body corporate caretaker salary. It is included in the Net Income above.}

Agreement Term: 25 years
_{How long is the caretaking contract.}

Agreement Remaining: 17 years
_{How long remains on the caretaking contract before it must be renewed?}

Agreement Age: 23 years
_{How long has the management rights existed.}

Office Hours: Mon to Fri: 8:30am to 5pm Sat: 9am to 12pm
_{Required Office Hours}

Complex Features:

Real Estate Component

Manager's Unit: 2 2

Included Real Estate: $ 895,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}

Manager's Car Spaces: 2

Office On Title: 1
_{Is there a manager's office included on the title?}

Pets: Yes
_{Can the manager own a pet on site?}

Unit Features: As with all units, the extra large 231 m2 inc office managerâs unit is spacious and airy, boasting a high quality fit-out throughout the property. The air conditioned unit features two comfortable bedrooms, master ensuite and a separate well-designed bathroom. There is also parking available.